Insider Selling: Tanger Factory Outlet Centers Inc. (SKT) SVP Sells 3,550 Shares of Stock

Tanger Factory Outlet Centers Inc. (NYSE:SKT) SVP Charles Allen Worsham sold 3,550 shares of the firm’s stock in a transaction dated Tuesday, November 27th. The stock was sold at an average price of $23.63, for a total transaction of $83,886.50. Following the sale, the senior vice president now owns 32,493 shares of the company’s stock, valued at approximately $767,809.59. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Shares of Tanger Factory Outlet Centers stock opened at $23.65 on Friday. Tanger Factory Outlet Centers Inc. has a twelve month low of $19.86 and a twelve month high of $26.73. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 3.33. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 9.50, a price-to-earnings-growth ratio of 1.91 and a beta of 0.42.

Tanger Factory Outlet Centers (NYSE:SKT) last issued its quarterly earnings data on Thursday, November 1st. The real estate investment trust reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.03. Tanger Factory Outlet Centers had a net margin of 11.16% and a return on equity of 9.57%. The business had revenue of $124.24 million during the quarter, compared to analysts’ expectations of $119.47 million. During the same quarter in the previous year, the company earned $0.63 EPS. The business’s revenue was up 2.9% on a year-over-year basis. As a group, equities research analysts expect that Tanger Factory Outlet Centers Inc. will post 2.44 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Wednesday, October 31st were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 5.92%. The ex-dividend date of this dividend was Tuesday, October 30th. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) is 56.91%.

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Tanger Factory Outlet Centers by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 14,048,190 shares of the real estate investment trust’s stock worth $321,422,000 after purchasing an additional 64,251 shares in the last quarter. BlackRock Inc. increased its holdings in Tanger Factory Outlet Centers by 1.0% in the 3rd quarter. BlackRock Inc. now owns 13,724,745 shares of the real estate investment trust’s stock valued at $314,024,000 after buying an additional 138,808 shares during the period. Northern Trust Corp increased its holdings in Tanger Factory Outlet Centers by 53.4% in the 2nd quarter. Northern Trust Corp now owns 1,945,986 shares of the real estate investment trust’s stock valued at $45,711,000 after buying an additional 677,250 shares during the period. Bank of New York Mellon Corp increased its holdings in Tanger Factory Outlet Centers by 7.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,761,548 shares of the real estate investment trust’s stock valued at $41,378,000 after buying an additional 116,626 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Tanger Factory Outlet Centers by 0.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,524,609 shares of the real estate investment trust’s stock valued at $34,882,000 after buying an additional 5,429 shares during the period. Institutional investors and hedge funds own 99.86% of the company’s stock.

A number of analysts have recently issued reports on SKT shares. Citigroup raised their target price on shares of Tanger Factory Outlet Centers from $21.00 to $22.50 and gave the stock a “neutral” rating in a research note on Thursday, August 16th. ValuEngine upgraded shares of Tanger Factory Outlet Centers from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 1st. Zacks Investment Research upgraded shares of Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research note on Thursday, September 6th. Finally, Scotiabank assumed coverage on shares of Tanger Factory Outlet Centers in a research note on Tuesday, October 16th. They issued an “underperform” rating for the company. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $22.88.

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About Tanger Factory Outlet Centers

Tanger Factory Outlet Centers, Inc (NYSE:SKT), is a publicly-traded REIT headquartered in Greensboro, North Carolina that operates and owns, or has an ownership interest in, a portfolio of 44 upscale outlet shopping centers. Tanger's operating properties are located in 22 states coast to coast and in Canada, totaling approximately 15.3 million square feet leased to over 3,100 stores operated by more than 510 different brand name companies.

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Insider Buying and Selling by Quarter for Tanger Factory Outlet Centers (NYSE:SKT)

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